Platinum Prices Surge on Trading Launch in China

On Thursday, spot platinum prices increased, buoyed by the commencement of futures trading on the Guangzhou Stock Exchange, which has enhanced overall liquidity for platinum.

This initiative marks the first domestic pricing and hedging framework for platinum and palladium in China, the world’s second-largest economy. These metals are important not just for automakers but also for jewelry and investment sectors.

During its first trading day, Guangzhou platinum futures destined for June delivery jumped by 6%, while palladium gained 1.5%.

By 12:26 GMT, spot platinum prices in London rose by 1.0%, reaching $1,604 per ounce, following a one-month peak of $1,641. Spot palladium remained steady at $1,423.

As the leading consumer of platinum group metals globally, China relies heavily on imports. Analysts estimate that platinum represents nearly 30% of worldwide consumption, with palladium at around 20%. However, the absence of local price indicators means these metals often reflect trends in global markets.

“This launch is transformational for China’s platinum group metals market,” noted Weibin Deng, head of Asia Pacific at the World Platinum Investment Council.

He further explained, “For the first time, domestic industrial users and manufacturers have a direct regulatory tool to manage against fluctuations in global platinum and palladium prices.”

This year has seen global prices for both platinum and palladium escalate, spurred by record highs in gold and silver that have tightened supply and reignited investor interest.

So far in 2025, spot platinum prices have surged by 76%, while palladium has increased by 56%.